Even Joe Lubin Couldn’t Stop ‘Dr Doom’ Roubini from Trashing Crypto

Nouriel Roubini was in full attack mode in his latest crypto debate. “The entire crypto land is more unequal in terms of income and wealth than North Korea,” he said Wednesday afternoon, and the jabs didn’t stop there, with the former Clinton administration economist, better known as “Dr. Doom” for his prediction of the 2008 financial collapse, taking his criticism of all things crypto to new levels. Still, this was perhaps to be expected. After antics onstage at the Milken Institute Global Conference earned him headlines, the organizers of the Fluidity Summit…

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Nvidia Reports First Quarter Crypto Sales, Expects Two-Thirds Drop In Second Quarter

Nvidia (NASDAQ: NVDA), an American graphics processing units (GPUs) manufacturer, has recently reported that the company generated $289 mln from processor sales to the crypto market, Bloomberg reports May 10. This is reportedly the first time Nvidia shared information regarding its revenue from chip sales to the crypto mining market. According to Susquehanna analyst Christopher Rolland, Nvidia’s first-quarter sales from mining hardware were anticipated to be much lower, around $200 mln. Nvidia CEO Jensen Huang explained that they were able to exceed expectations due to increased demand for GPUs from…

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Venture Capitalist Tim Draper: Bitcoin Is The Most Secure Place To Put Your Money | CNBC

Venture capitalist Tim Draper discusses government scrutiny of Facebook and concerns over user privacy, as well as his regulatory issues faced by companies thinking about going public. He also says Elizabeth Holmes, Theranos founder, was bullied into submission. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Find CNBC News on…

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Colorado Blockchain Bill Hits the Skids

Join our community of 10 000 traders on Hacked.com for just $39 per month. The bill would have exempted certain digital currencies from being regulated as securities under the Colorado Securities Act. Colorado’s blockchain bill, House Bill 1426, would have also been a boon for innovation in the state was making its way through the State Assembly but got derailed abruptly on Wednesday in a vote. HB 1426 was all but on its way to the governor’s desk after seemingly passing both the House and Senate votes. But the approval…

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Bitcoin as a Payment System

Debates over the suitability of Bitcoin as a payment system continue. Last week, CFTC chairman J. Christoper Giancarlo stated he does not believe Bitcoin to be an “ideal” payment system. The chair has this mentality despite also saying Bitcoin has similarities to gold. This week, the Bank of America CTO joined the conversation. Bitcoin as a Payment System On Thursday, Catherine Bessant, Bank of America CTO, stated that Bitcoin as a payment system is very “troubling.” Not just Bitcoin, however, Bessant referred to the use of other cryptocurrencies as payment systems…

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Platform Creates Blockchain System That Offers ‘Valid Randomness’ in iGaming

A start-up company claims it can reduce public distrust in iGaming services through a blockchain system that generates “valid randomness” in games and makes them “provably fair.” Luckchemy, which is registered in Gibraltar, says its initial product is a daily lottery which uses a delegated Ethereum blockhash and a server seed to ensure the final result cannot be altered. Players can select five numbers from 1 to 47 and one number from 1 to 24, with a variety of prizes available depending on how many numbers are matched. Prize funds…

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Bitcoin Price Could Reach $64,000 in 2019: Fundstrat Analysis

Join our community of 10 000 traders on Hacked.com for just $39 per month. The bitcoin price could reach $64,000 by the end of 2019, according to a new analysis of cryptocurrency mining economics. The study, conducted by Wall Street strategy firm Fundstrat Global Advisors, argues that that the ratio between the bitcoin price and miners’ breakeven cost (P/BE) has proven to be a “reliable long-term support level” for the flagship cryptocurrency and that current and future mining infrastructure development will “underpin bitcoin price appreciation into year-end 2019.” “We expect…

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Mining Will Propel Bitcoin Price To $36k In 2019, Says Latest Fundstrat Research

New research from Fundstrat Global Advisors places Bitcoin prices at $36,000 by the end of 2019, co-founder Tom Lee revealed Thursday, May 10. Analysis of the relationship between Bitcoin mining costs and price by Fundstrat’s Quantamental Strategist Sam Doctor has led the market research firm to predict the cryptocurrency’s range will fall between $20,000 and $64,000 by 2019 year end. The calculations focused on Bitcoin Price to Mining Breakeven Cost Metric, known as P/BE, which Doctor says has “proven a reliable long-term support level.” “We expect the mining economy to…

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China Will Issue Blockchain ‘Standards’ In 2019, Says Gov’t Official

China will seek to release nationwide blockchain standards by the end of 2019, a government official told local news media May 10. Speaking to Xinxua’s Economic Information Daily (EID), Li Ming, who is director of the Blockchain Research Office at the standards institute under the auspices of China’s IT Ministry, said a dedicated working group had already begun work on the project. The group, which brings together various government agencies, will be known as the Blockchain and Distributed Accounting Technology Standardization Committee. As EID reports, Beijing does not expect the…

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